Polaris AI Pharma, a South Korean specialty pharmaceutical company focused on fine chemicals and active pharmaceutical ingredient (API) research, development, and contract development and manufacturing (CDMO), has raised approximately $6.71M (KRW 10 billion) through a convertible bond (CB) issuance targeting KB Securities, NH Investment Securities, Zebra Asset Management, and JB Woori Capital.

An affiliate of Polaris Office, Polaris AI Pharma produces around 40 API products — primarily generics — spanning treatments for asthma, gastric ulcers, and alcohol dependence, which it supplies to both domestic and international markets.

The company plans to deploy the newly secured capital as a cornerstone of its mid-to-long-term growth strategy, with investment focused on three key areas: domestic localization of APIs, advancement of its CDMO processes, and improvements in overall production efficiency. Through these initiatives, Polaris AI Pharma aims to sharpen its competitive edge amid ongoing global supply chain realignment and accelerate its expansion of market share.In addition, Polaris AI Pharma intends to integrate AskDoc for Pharma, a pharmaceutical-specific AI solution currently under joint development with parent company Polaris Office, directly into its manufacturing processes to boost productivity and quality competitiveness.